Pakistan’s July - March Current Account Deficit falls to 2.768 billion

MG News | April 23, 2020 at 10:23 AM GMT+05:00

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April 23, 2020 (MLN): Pakistan’s current account deficit improved by 73 percent in July - March to USD 2.768 billion compared to 10.284 billion from the corresponding period last year.

According to data released by SBP, on a monthly basis, Pakistan’s CAD in March was just USD 6 million compared to a revised deficit of 198 million in Feb 2020 and a deficit of 823 million in March 2019.

The trade deficit in Goods improved by 31 percent to USD14.68 Billion in the first 9 months of FY20 as exports improved by a margin to USD 18.256 billion while imports decreased by 16% to USD 32.93 billion.

The trade deficit in services, also improved by 30 percent to USD 2.4 billion courtesy of a 17 percent reduction in imports to USD 6.68 billion, while exports also reduced by 7 percent to USD 4.24 billion.

Worker remittances in the nine months of FY20 improved by 6 percent to USD 16.99 billion from USD 16 billion in the corresponding period of FY19.

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